Still keeping a list, and checking it twice | Taking Stock

By Tim Raetzloff | Jun 14, 2017

Last week, I mentioned the Abarim Snohomish Stock Index – ASCSI – which I began in 1994 and ended in 2010.

I also mentioned the spreadsheet that I maintain of Washington companies, and the occasion when Microsoft surpassed IBM in market capitalization, which is the value of one share multiplied by the number of shares outstanding.

But I ran out of space. I didn't mention that Microsoft was the first company in the world to reach $600 billion in market capitalization. Two companies – Apple and Alphabet – have since exceeded Microsoft's record, and Microsoft has not yet gotten back to that number after the collapse of the internet bubble and the Great Recession.

The point of all of this is that I still keep up a spreadsheet of Washington companies. It is always active. New companies pop up; old companies disappear. Companies move into the state, and companies move out. Some enjoy great publicity, and some I only find by hours of research in the records at the Securities and Exchange Commission (SEC).

Through all of this, I still have an attachment to Snohomish County companies. This is where I live and work. This was why I started the ASCSI. There were only six Snohomish County companies that I could find when I began the index in November 1994. At its peak, the index included 15 companies.

The Great Recession took its toll. The fact that Snohomish County companies generally were small also took its toll: they were acquired by bigger companies. I almost said fish there.

These days I don't calculate an index for Snohomish County, but I do take personal note of our local companies. At the moment, I can identify seven companies that have their headquarters in Snohomish County and have shares that can be found on exchanges.

This is where I am asking for help. I always fear that I am missing somebody, and I don't want that.

So, readers – and I know there are at least two of you because I have met you – if you know of a company that has its headquarters in Snohomish County and has exchange-traded shares, please let me know in case I have overlooked them.

Of the seven I’ve identified, the largest and newest is Everett-based Fortive. It’s the first company ever in Snohomish County to have a national presence. Fortive is valued at more than $21 billion.

The second biggest company in Snohomish County is Canyon Park-based Seattle Genetics, which has a value of more than $9 billion. The third most valuable in Snohomish County is Lynnwood-based Zumiez, which tips the scale at just under $400 million.

Then we get smaller. Mountlake Terrace-based FS Bancorp is worth more than $130 million. BioLife Solutions, in the Snohomish County portion of North Creek, has a market capitalization of just under $30 million. Neah Power Systems, based in Canyon Park, is valued at about $1 million, as is Everett-based Seen On Screen TV.

Well, that is the lineup. Just like the Mariners, not everybody is a heavy hitter, but all are a part of the fabric of our county’s economy.

If you know of a company I have missed, let me know. Remember, the company has to have its headquarters in Snohomish County, so Boeing doesn't count. And the company must have exchange-traded shares.

We have some significant companies in the county that don't meet that requirement. Certainly some of the private companies are bigger than some of the public companies, but I can't place a value on them.

Tim Raetzloff operates Abarim Business Computers at Harbor Square in Edmonds. What he writes combines his sense of history and his sense of numbers. Neither he nor Abarim have an investment in any of the companies mentioned in this column.

For 16 years I maintained the Abarim Snohomish County Stock Index; I ended it on June 30, 2010.

I can be found now repairing computers at Harbor Square in downtown Edmonds.

What I write combines my sense of history (ask me about my ghost town some time, but be prepared to listen a long time) and my sense of numbers.

How are we doing compared to 10 or 50 years ago?

Statistics are easy. Agreeing on what the statistics mean can be hard.

My view is seldom the popular one, not because I want to argue (those close to me know that I avoid arguments if at all possible), but because what the raw numbers say and what the spinmeisters say are often at odds.

I usually make the sources of the numbers I use available.

You can check on me; you should check on me, as you should check any other source.

Snohomish County is very much in the shadow of King County, and may always be.

King County is one of the top economic engines of the entire world.

Snohomish County, as the smaller sibling, often isn’t noticed much.

I try to pull Snohomish County business information out into the light.

Often that may be something bright that has been overlooked, but sometimes it comes from the dark side.

Don’t expect to agree with me all the time, but I hope you will consider what I have to say.